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Yves here. Hubert Horan continues his chronicle of the deterioration of Uber’s finances. And you can only blame so much on the pandemic.
By Hubert Horan, who has 40 years of experience in the management and regulation of transportation companies (primarily airlines). Horan has no financial links with any urban car service industry competitors, investors or regulators, or any firms that work on behalf of industry participants
Last Thursday, Uber announced a full year 2020 GAAP loss of $6.8 billion with a GAAP net margin of (-60%). As discussed in the context of the mid-year results presented in Part 23, [1] Covid-19 significantly reduced Uber revenues, just as the pandemic has devasted dozens of other urban services and transport businesses. ....

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